SymbolTimes: The continuation of the AMA from Hatchet, this AMA was held on Twitter with the NEW&SYMBOL community. You can read the most interesting questions and answers in this article. Welcome to the second part, all the questions and answers are combined in one place. By the way, AMA is held for PR projects in the crypto community and you can be the first to get exclusive answers to your question, so let’s continue.
The following question came from twitter user CR_ZENZENDEN, a marketing question for NEM/SYMBOL.
CR_ZENZENDEN: Sorry for the rudimentary question, but what department or departments are responsible for advertising and marketing to make Symbol famous?
Hatchet: You are the marketing department!
If you hold a Symbol or are active in the community, you have an incentive to spread the word and raise awareness. This is how Bitcoin and Ethereum grew, and this is how we will grow: through organic word of mouth.
Hatchet: This answer upsets many people, but it is an ethical and correct answer. Here’s a great example of paid centralized marketing in action: @Bitboy_Crypto, a well-known influencer, promotes protocols for distributing information.
CR_ZENZENDEN: Basically, you don’t have an organization, do you?
Hatchet: Correctly. We do not currently have any intention of investing any money in marketing or advertising and we are firmly committed to doing so. This is a waste of money. Organic growth and word of mouth is the best approach.
SymbolTimes: There was also a question from a user umesetu2011 from Japan who wanted to ask about the quality of his work, whether the main developers like his work, his question was as follows:
umesetu2011: Are my actions helpful?
Hatchet: Yes, as it brings a lot of joy to the team, the community, and me and @Lehwald of Valkyrie. Any advertisement is a good advertisement! You help spread the word about Symbol, and you’re good at it.
Increase in the number of transactions in the Symbol network
I operate from the idea that it is very important to create various transactions or important transactions in the Symbol network. How do you think we can be more efficient?
Hatchet:We need a large number of transactions on the network in order to generate income from the protocol, but it must be a sustainable income. Blockchain-based application tokenomics is arguably one of the most important parts in product development.
I think the right way to create more transactions on the Symbol and NEM network is a two-pronged approach:
- The first approach requires us to create “playbooks” of products – ready-made application concepts in the form of a project plan that any developer can implement.
*A playbook is a description of the state of a system’s resources that it should be in at a particular point in time, including installed packages, running services, files created, and more.
These will be products with reliable tokenomics, which are also peer-reviewed by the community. Therefore, it gives developers ideas (and directions) on how to create a sustainable income from the project on Symbol.
- The second approach would be education – writing articles about the network flywheel and educating potential users and potential developers about why block space is important, when and why you will pay for it, and how to build sustainable applications.
This may be in the form of articles, interviews, podcasts, or any other form of media. We want to teach developers to be self-sufficient and they will be attracted to Symbol through community experience and access to resources and ideas.
h_gocchi: Thanks for the answer, playbooks and education, very helpful💪
NEMTUS is launching the “NEMTUS Monthly Event” starting the day after tomorrow where community members will talk about their development and activities.
Art Work by @umesetu2011
salaryman_tousi: Does the direction of NEMTUS align with the future vision of the core developers? We want to be the catalyst for the development of the ecosystem as a community driven OSS. For example, the release of REST API client npm packages and the symbol-sdk@3 fork for TS, etc.
Hatchet: I can only speak for myself here, so I’ll tag @Jaguar0625 and @NCOSIGIMCITYNRE under this tweet so they can respond in this thread.
Our biggest problem right now is that we can’t work locally in Japan to spread the word, help with implementation, and help educate developers on how to use Symbol and NEM in their products.
The last very important thing is that incorporating blockchain into your project is more than just using the API interface. It should be self-sustaining (remember the network flywheel?), generate income for both the validators and the developer.
I hope NEMTUS can speed up Symbol and NEM adoption in Japan. We can help in any way we can, but we are very limited in this. Japan also does not allow foreigners to set up a company there!
SymbolTimes: After that, the user @CR_ZENZENDEN sent a link to a document from the Japan Bureau of Industry and Labor “Foreign Entrepreneurship Financial Assistance Project”. This document lists the main criteria on how foreigners can start their business in Tokyo. After reading this document in Japanese, I can say that this is really not easy to do.
Since then, Hatchet has added the following:
Hatchet: It’s the same with Bermuda – government “approval” is required for a business plan. Given that we don’t need a loan (and our business plan doesn’t exist because we don’t sell any goods or services), we will be denied. Since this proposal is more suitable for traditional startups.
@Yiddish816: What is the state of Garush, Hermes?
Hatchet: The answer to one of these questions is here: https://twitter.com/0x6861746366574/status/1562646162045562880?s=20&t=9OdGD3O1oR7gyhAOR-E0Og
Our resources are focused on rewards for NEM nodes, our SDK, and ensuring the test coverage and stability of our current wallets.
Hermes is still planned, but we have a lot of work to do to clean up our existing products before we can move on to the next one.
Instead of launching an NFT platform to compete with COMSA, we are working on an image processing toolkit (SDK), including the Garush specification. You can see the progress in Discord!
However, this work is relegated to the background, in connection with our work on cleaning up the existing client, wallet, explorer and other products. All resources are focused on making the current blockchain network and its tools stable and easy for developers.
About Symbol Nodes
Feuer_symbol: Any thoughts on revisiting symbol node rewards like NEM?
I am concerned that the number of Symbol nodes is declining. One reason could be that the cost of the server cannot be covered due to the drop in the price of xym.
Hatchet: We intend to rework the Symbol tokenomics to be more community friendly, and we also plan to consider collaborative delegation, i.e. allowing people to “pool funds” to have a common pool to run a voting node (3M XYM).
I’m not sure if it will launch this year due to the required testing and holding period.
Feuer_symbol:Thank you. Many node operators are struggling to maintain their nodes (because of the crypto winter?) and I wanted you to know what’s going on 😉
Hatchet:It’s not just the Symbol and NEM node operators that are struggling, but the bitcoin miners as well. I think the choice of starting a node depends on how you feel about your investment – are you focused on the short-term acquisition of the Symbol (selling as soon as you harvest) or the long-term potential?
SSS Extension Виджет
Inatatsu_csg_: Hello. I would like to know if you have any requests or feedback on SSS_Extension as I would like to reference the features to be implemented.
Hatchet: I have used SSS_Extension quite often and have been impressed. My recent introduction to SSS_Extension was through TokenLive. I would like to see more detailed documentation for developers and active translations into other languages.
I would also like #SSS_Extension to be integrated into @cluster_jp so that users can create allowed worlds that can only be accessed if you have a specific NFT or are on a specific white list.
In particular, it would be very useful for creating events and conferences that use Symbol network mosaics as tickets, and would also like to see support for harvesting and aggregated transactions.
Inatatsu_csg_: Thanks for your reply, we are very happy that you are using SSS_Extension. In the future I will try to improve multilingual support and different use cases on https://docs.sss-symbol.com
I would like to develop a harvesting tool using #SSS_Extension either by myself or by members of the community. Aggregated transactions are already supported in SSS_Extension!😎👍 I believe that Cluster uses the Unity game engine, so it’s possible to implement.
Thank you very much for your attention, you can support us:
KLIMXYM: Symbol Node: NIS2.host
ANGELXYM: Symbol Node: XYM007.host